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News Breaks | | | | February 28, 2013 | | 05:40 EDT |  | PZG | Paramount Gold & Silver completes PEA for San Miguel Project in Mexico
Paramount Gold and Silver announced the results of a Preliminary Economic Assessment, or PEA, for its 100%-owned San Miguel gold and silver project located in Chihuahua State, Mexico. The PEA was prepared by Metal Mining Consultants of Denver, Colorado incorporating a resource model developed by Mine Development Associates of Reno, Nevada. The PEA confirms that the San Miguel project represents an unusually robust economic opportunity to develop a low cost mine in the prolific Sierra Madre belt in Mexico. The complete PEA will be filed at SEDAR within 45 days. Highlights of the assessment include low initial capital of $232M and low operating costs generate exceptional economics. Estimated average annual production of 57,300 ounces Gold and 3.1M ounces Silver for 14 years. Estimated base case pre-tax NPV of $707M at a 5% discount rate and IRR of 33.2%. | |
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